If Peter is so "wrong". . .

[FreeMama]

. . . then why did RP choose him as his economic advisor??

I have a LOT of respect for DR. Paul, his predictions, his intelligence, and his judgment.

If you all are bashing Peter, aren't you essentially saying that RP has bad judgment??

Why on earth would Ron be doing interviews in his office about German hyperinflation?? I think there is a LOT that is about to happen. Peter AND Ron are very patient and consistent men who see things VERY far ahead.

All this childish crap is pissing me off. Who cares if the dollar had a stupid little rally. In the end, it is totally screwed.

Invest accordingly!!

 

[SnappleLlama]

Another Schiff thread? Damn, and I ran out of popcorn!

*rushes out*

 

[Original_Intent]

Are we all bashing Peter?

 

[SnappleLlama]

Are we all bashing Peter?

I'm just here for the fireworks (and so is BUNCHIES!)! I'm following all of the other economic/gold/schiff/mish threads that are currently active!

 

[FreeMama]

Sorry I made a new post, I just was wanting to address what RON would say about all of this nonsense???

 

[constitutional]

. . . then why did RP choose him as his economic advisor??

I have a LOT of respect for DR. Paul, his predictions, his intelligence, and his judgment.

If you all are bashing Peter, aren't you essentially saying that RP has bad judgment??

Why on earth would Ron be doing interviews in his office about German hyperinflation?? I think there is a LOT that is about to happen. Peter AND Ron are very patient and consistent men who see things VERY far ahead.

All this childish crap is pissing me off. Who cares if the dollar had a stupid little rally. In the end, it is totally screwed.

Invest accordingly!!

This is how I see it. His core values/beliefs are right. Getting it right on the market is a whole another game, too many variables.

 

[SnappleLlama]

Sorry I made a new post, I just was wanting to address what RON would say about all of this nonsense???

Write to Ron! Go to his Congressional website and send him an e-mail!

 

[silverlinkx2]

I'm not bashing Pete. He's a good guy. Spot on about the housing bust. Wrong for right now about commodities and the dollar. We'll see if history vindicates him a 2nd time.

I'm more interested in why people are so willing to believe everything he says and label all of his critics as sleazes or opportunists or whatever have you.

 

[dannno]

I think it's like 2 or 3 posters max.

 

[theoakman]

I'm not bashing Pete. He's a good guy. Spot on about the housing bust. Wrong for right now about commodities and the dollar. We'll see if history vindicates him a 2nd time.

I'm more interested in why people are so willing to believe everything he says and label all of his critics as sleazes or opportunists or whatever have you.

I don't think anyone labels all Schiff's critics as opportunists. I for one certainly don't. However, Mish's post was opportunist at best and a sad attempt to grab business at the expense of someone else. If Mish wants to increase his client base, then he should be on TV, writing books, and selling himself. Not slandering others because they are attracting investors on their own.

 

[danberkeley]

I don't think anyone labels all Schiff's critics as opportunists. I for one certainly don't. However, Mish's post was opportunist at best and a sad attempt to grab business at the expense of someone else. If Mish wants to increase his client base, then he should be on TV, writing books, and selling himself. Not slandering others because they are attracting investors on their own.

Exactly. As I pointed out yesterday, Mish's hit piece came out while Peter was overseas in Saudi Arabia.

 

[silverlinkx2]

I don't think anyone labels all Schiff's critics as opportunists. I for one certainly don't. However, Mish's post was opportunist at best and a sad attempt to grab business at the expense of someone else. If Mish wants to increase his client base, then he should be on TV, writing books, and selling himself. Not slandering others because they are attracting investors on their own.

He didn't slander Schiff! He made a very detailed, very thorough point about why he was wrong. I thought it was the free market that encouraged competition? If you were running a hedge fund, and your competitor lost his customers 50% of their portfolio on faulty claims, then why the hell wouldn't you try to steal his business? What kind of CEO DOESN'T seize that opportunity?

Two of my most recent favorite quotes come from this board and Mish's blog respectively:

"The market can remain irrational far longer than you can remain solvent."

"We invest based on what the market is doing, not what we think it should be doing."

What puzzles me is why people keep calling Mish's blog a hitpiece when it was really more along the lines of an economics paper.

I'm surprised that this group of all people isn't aware of the dangers of not questioning everything you read/see/hear.

 

[theoakman]

He didn't slander Schiff! He made a very detailed, very thorough point about why he was wrong. I thought it was the free market that encouraged competition? If you were running a hedge fund, and your competitor lost his customers 50% of their portfolio on faulty claims, then why the hell wouldn't you try to steal his business? What kind of CEO DOESN'T seize that opportunity?

Two of my most recent favorite quotes come from this board and Mish's blog respectively:

"The market can remain irrational far longer than you can remain solvent."

"We invest based on what the market is doing, not what we think it should be doing."

What puzzles me is why people keep calling Mish's blog a hitpiece when it was really more along the lines of an economics paper.

I'm surprised that this group of all people isn't aware of the dangers of not questioning everything you read/see/hear.

It was a hit piece because it specifically targeted one person and one person only. There are plenty of guys out there who are predicting massive inflation. DOZENS. Why not just refer to people as inflationists? Why didn't Mish call out Jim Rogers? Why didn't he call out any other "inflationist"? He targeted Peter because Peter's firm attracts more clients than his does. It's a hit piece because he targeted a specific person rather than a bunch of people who hold the same views. The goal of his piece wasn't to inform people of the deflation he believes is occurring, it was to try to hurt the credibility of Peter Schiff. If you aren't going to acknowledge this, we should question who blind follower truly is.

It wasn't very thorough, he referenced Indexes. He cherry picked times. And again, it's false that Schiff lost 50% of his clients portfolios. There are few people who were unfortunate enough to get in at the worst time. They are the minority. Anyone who's invested in Schiff for years is still up.

The idea of the free market isn't to slander people and spread misleading information. It's no different than a pizza store owner standing in front of the other pizza store down the street telling everyone who enters the pizza sucks. I'll say it for the 25th time. If Mish really wants to attract clients, why doesn't he write a book and appear on TV and get them the honest way? Why does he have to go out try to hurt someone elses business?

 

[silverlinkx2]

It was a hit piece because it specifically targeted one person and one person only. There are plenty of guys out there who are predicting massive inflation. DOZENS. Why not just refer to people as inflationists? Why didn't Mish call out Jim Rogers? Why didn't he call out any other "inflationist"? He targeted Peter because Peter's firm attracts more clients than his does. It's a hit piece because he targeted a specific person rather than a bunch of people who hold the same views.

Instead of a hitpiece I'd call it more of a public service. I'm glad someone's drawing attention to those portfolio losses over at Europac. Even if Schiff turns out to be right and the economy collapses tomorrow and the dollar is worthless, I'm still glad people like Mish are always questioning cults of personality and information that they put out there. Even if it is for greed. If Mish is wrong, I'm sure someone will rebut him just as succinctly as he rebutted Schiff.

 

[tmosley]

He didn't slander Schiff! He made a very detailed, very thorough point about why he was wrong. I thought it was the free market that encouraged competition? If you were running a hedge fund, and your competitor lost his customers 50% of their portfolio on faulty claims, then why the hell wouldn't you try to steal his business? What kind of CEO DOESN'T seize that opportunity?

Two of my most recent favorite quotes come from this board and Mish's blog respectively:

"The market can remain irrational far longer than you can remain solvent."

"We invest based on what the market is doing, not what we think it should be doing."

What puzzles me is why people keep calling Mish's blog a hitpiece when it was really more along the lines of an economics paper.

I'm surprised that this group of all people isn't aware of the dangers of not questioning everything you read/see/hear.

It's slander if what he says is false. He also made impossible (illegal) demands of Schiff to release information on how his other clients were doing. The two angry clients he referenced invested just before a major correction. This does not mean that his entire strategy is bad. In addition, those clients took out extremely high risk bets, and EPC brokers surely told him that, but he did it anyway. Greed caused him a nasty short term loss. It's a good lesson, one that I myself learned quite well years ago.

You can make a lot of money by "timing" the markets, but it is as dangerous as Russian Roulette. Get unlucky or stupid just ONE time, and it's game over.

*Edit* Also, Schiff doesn't so much have a cult of personality, as much as a cult of right. He's been so right that people have started following him. If you read the comments on Mish's blog, it looks like he's the one withthe personality cult.

 

[silverlinkx2]

It's slander if what he says is false.

Did he say anything false?

He also made impossible (illegal) demands of Schiff to release information on how his other clients were doing.

Fair enough.

The two angry clients he referenced invested just before a major correction. This does not mean that his entire strategy is bad.

We won't know until we see detailed statements across a wide time range, as we established, that's impossible.

In addition, those clients took out extremely high risk bets, and EPC brokers surely told him that, but he did it anyway. Greed caused him a nasty short term loss. It's a good lesson, one that I myself learned quite well years ago.

By investing in Europac? Where was the risk other than what the fund was actually investing in? Did those angry investors short something else besides the fund?

 

[The_Orlonater]

I don't think anyone labels all Schiff's critics as opportunists. I for one certainly don't. However, Mish's post was opportunist at best and a sad attempt to grab business at the expense of someone else. If Mish wants to increase his client base, then he should be on TV, writing books, and selling himself. Not slandering others because they are attracting investors on their own.

I heard Mish didn't even bother to respond. Oh well, let's kiss and make up.

 

[tmosley]

Did he say anything false?

He said that Schiff was calling for hyperinflation in 2008, for one. There were others, but I don't really have time to read through both documents right now.

By investing in Europac? Where was the risk other than what the fund was actually investing in? Did those angry investors short something else besides the fund?

EuroPAC is not a mutual fund. Each person that invests with that company has a different portfolio based on long discussions with their brokers. Some people just want to follow Peter's advise, others want to stay away from this market or that, others want to invest more heavily in mining, etc. etc.

 

[FreeMama]

I still want to keep on track with the ORIGINAL question in this post. . . and I want to know what YOU guys think Ron would say about Mish and Peter.

I will write Ron and ask if need be!!

 

[danberkeley]

I still want to keep on track with the ORIGINAL question in this post. . . and I want to know what YOU guys think Ron would say about Mish and Peter.

I will write Ron and ask if need be!!

Ron Paul did not ask Peter Schiff to be his investment advisor, instead, he asked Schiff to be his economic advisor.